Revised SYSCOHADA reform: impacts and opportunities for West African SMEs

The revised SYSCOHADA: a silent revolution

The revised OHADA Accounting System, which gradually entered into force since 2018, represents the most significant accounting reform in the OHADA area since its creation. By substantially aligning with IFRS while retaining simplifications adapted to the realities of African economies, the revised SYSCOHADA fundamentally changes the way companies must record, evaluate and present their financial operations.

For SMEs, the main changes concern: lease accounting (IFRS 16 inspiration), treatment of financial instruments, presentation of financial statements and new requirements for notes. These changes require adapting accounting systems, training financial teams and, often, revising accounting policies.

The overlooked opportunities of the reform

Beyond the adaptation constraints, the revised SYSCOHADA offers significant opportunities to African SMEs. Convergence with IFRS facilitates the reading of financial statements by international investors and partners, thereby reducing information asymmetries that penalize African SMEs in their access to financing.

Companies that anticipate this transition and train their teams benefit from a real advantage in their relationships with banks, investors and international commercial partners. Financial credibility is today a strategic asset.